Tips to Follow When Selling Your Old Jewelry
Last year gold hit an all-time high and broke the $1,000 per ounce level – it is still trading high today though it has fallen back slightly to around the $900 mark. In a time of recession, gold prices rise and it is a mark of how bad the current recession has been that gold has hit record high prices and this in turn reflects why the second-hand gold market of selling gold has developed with something of a mini-boom! People are looking for ways to raise extra cash and make the most of what they have – old jewelry stored away in a dusty drawer is no way to pay the bills or make life any easier so sell it while the price is at this historically high level – when the recovery comes the price of gold will fall and you will not get so much money for your old metal.
The first thing to establish when selling your old items is the price for the gold, silver, platinum or other precious metal. A reputable dealer will publish the price per ounce they are prepared to pay along with the purity standards – this should be simple and easy to find and if a dealer is not forthcoming with this information you are advised to leave them alone and find another dealer to transact your business with. You should restrict your enquiries to refiners and smelting operators as this will ensure you cut out the middleman who may make a serious profit at your expense.
